Mezzanine Management in US deal

Mezzanine Management, the London-based provider of mezzanine capital that is run by Rory Brooks, has invested $30m in equity capital in GlobalWare Solutions, a distributor of supply-chain management software.

GlobalWare Solutions, of Haverhill in Massachusetts, will use the capital to finance a global, acquisition-based expansion strategy. Mezzanine Management, which invested from the $525m fund it raised last year, will take common and preferred stock in return for its investment.

The deal was led by Brad Jay, the partner who runs Mezzanine Management’s US office in Stamford, Connecticut. The firm’s main focus is the European market for mezzanine debt, equity and subordinated debt financings, but approximately 25 per cent of its capital is invested in the US market.

The firm is currently in the market raising a mezzanine fund dedicated to midmarket investment opportunities in Central and Eastern Europe. Looking to raise E150m, the fund will be the first of its kind to invest in the region. Launched in June of this year, the marketing for the fund is understood to be progressing well. A first closing is expected for the beginning of 2002.